Philippe Laffont Coatue Management
Philippe Laffont is the founder of Coatue Management, a technology-focused hedge fund that has grown into one of the most prominent investors in the sector. A protégé of Julian Robertson, he is one of the so-called “Tiger Cubs” who launched their own funds after working at Tiger Management. Laffont’s investment approach centers on deep research into technology, media, and telecommunications companies, spanning both public markets and private venture investments. He is known for backing innovative, high-growth businesses and for his early conviction in transformative technology trends.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Payments
GPN
|
+$363M |
| 2 |
Snap
SNAP
|
+$168M |
| 3 |
Sea Limited
SE
|
+$147M |
| 4 |
TWTR
Twitter, Inc.
TWTR
|
+$133M |
| 5 |
Alibaba
BABA
|
+$130M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$239M |
| 2 |
Intuit
INTU
|
+$220M |
| 3 |
Adobe
ADBE
|
+$196M |
| 4 |
Microsoft
MSFT
|
+$169M |
| 5 |
Twilio
TWLO
|
+$110M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.13% |
| 2 | Communication Services | 22.95% |
| 3 | Consumer Discretionary | 13.08% |
| 4 | Financials | 11.56% |
| 5 | Industrials | 5.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Texas Roadhouse
TXRH
$12.5B
| $2.25M | 0.02% |
42,842
+31,632
| +282% | +$1.68M |
|
127
Target
TGT
$61.1B
| $2.21M | 0.02% |
+20,648
| New | +$1.96M |
|
128
Gogo Inc
GOGO
$510M
| $2.19M | 0.02% |
363,938
+352,881
| +3,191% | +$1.66M |
|
129
AB InBev
BUD
$155B
| $2.17M | 0.02% |
+22,856
| New | +$2.17M |
|
130
Bath & Body Works
BBWI
$3.9B
| $2.17M | 0.02% |
137,150
+116,120
| +552% | +$2.05M |
|
|
TACO
131
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
| $2.16M | 0.02% |
211,299
+55,430
| +36% | +$642K |
|
132
Constellation Brands
STZ
$22.1B
| $1.99M | 0.02% |
9,605
+2,589
| +37% | +$520K |
|
133
Under Armour
UAA
$2.87B
| $1.98M | 0.02% |
99,023
+26,800
| +37% | +$591K |
|
|
ZNGA
134
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
| $1.96M | 0.02% |
335,885
+244,630
| +268% | +$1.47M |
|
135
ScottsMiracle-Gro
SMG
$3.93B
| $1.94M | 0.02% |
19,046
+13,123
| +222% | +$1.37M |
|
136
Central Garden & Pet Co Class A
CENTA
$2.36B
| $1.91M | 0.02% |
86,115
+46,851
| +119% | +$932K |
|
137
Dine Brands
DIN
$428M
| $1.81M | 0.02% |
23,931
+15,857
| +196% | +$1.3M |
|
138
Shake Shack
SHAK
$2.26B
| $1.71M | 0.01% |
17,449
+10,058
| +136% | +$888K |
|
139
Groupon
GRPN
$966M
| $1.67M | 0.01% |
+31,419
| New | +$1.85M |
|
|
JCP
140
DELISTED
J.C. Penney Company, Inc.
JCP
| $1.66M | 0.01% |
+1,869,634
| New | +$1.57M |
|
141
Tyson Foods
TSN
$20B
| $1.56M | 0.01% |
18,150
+4,834
| +36% | +$411K |
|
142
G-III Apparel Group
GIII
$1.45B
| $1.54M | 0.01% |
+59,972
| New | +$1.5M |
|
|
SHOE
143
Shoe Station Group
SHOE
$388M
| $1.52M | 0.01% |
+93,636
| New | +$1.3M |
|
144
Weis Markets
WMK
$1.85B
| $1.47M | 0.01% |
38,625
+18,595
| +93% | +$707K |
|
145
Best Buy
BBY
$17.8B
| $1.42M | 0.01% |
20,612
+7,320
| +55% | +$511K |
|
146
Mondelez International
MDLZ
$77.1B
| $1.4M | 0.01% |
25,318
+2,126
| +9% | +$116K |
|
147
Grocery Outlet
GO
$884M
| $1.37M | 0.01% |
+39,610
| New | +$1.5M |
|
148
Church & Dwight Co
CHD
$22.8B
| $1.37M | 0.01% |
18,171
+13,515
| +290% | +$1.02M |
|
149
PepsiCo
PEP
$184B
| $1.35M | 0.01% |
9,885
-200
| -2% | -$26.6K |
|
150
Shutterstock
SSTK
$212M
| $1.29M | 0.01% |
35,667
+26,534
| +291% | +$974K |
|
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Philippe Laffont's Q3 2019 Portfolio in Review
As of Q3 2019, Philippe Laffont held 267 positions worth $11.7B, down 1.3% from $11.8B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Philippe Laffont deployed $598M of net new capital in Q3 2019, opening 103 new positions and adding to 71 existing holdings. Its largest new stake was Snap: 10,513,250 shares worth $166M.
By sector, the portfolio is most concentrated in Technology at 40% of assets, down from 49% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Salesforce, an estimated $239M trimmed.
- Philippe Laffont's largest Q3 2019 buy was Snap: 10,513,250 shares worth $166M.
- Philippe Laffont added most to Global Payments in Q3 2019, an estimated $363M increase.
- Philippe Laffont's biggest Q3 2019 reduction was Salesforce, cutting an estimated $239M.
- Philippe Laffont fully exited Tableau Software, Inc. in Q3 2019, selling an estimated $67.5M.
- Philippe Laffont's ten largest holdings make up 53% of its $11.7B portfolio in Q3 2019.
- Philippe Laffont opened 103 new positions and closed 52 in Q3 2019.
- Philippe Laffont's portfolio value fell 1.3% quarter-over-quarter to $11.7B.
Based on Coatue Management's 13F filing for Q3 2019, filed 14 Nov 2019.